S02811 Summary:

BILL NO S02811C
SAME AS No Same as
SPONSOR BUDGET
COSPNSR
MLTSPNSR
Amd Various Laws, generally
Relates to the dormancy period of miscellaneous unclaimed property, payment of
abandoned property, publication of notices of abandoned property, and written
reports pertaining to payment of abandoned property; relates to reports by the
commissioner regarding abandoned property; relates to payments from the
abandoned property fund; relates to extending the disclosure and penalty
provisions for transactions that present the potential for tax avoidance;
directs the crediting of lottery prizes of more than six hundred dollars
against liability for any tax administered by the commissioner of taxation and
finance; extends certain provisions relating to extending dates of application
of investment tax credit; provides a credit against income tax for persons or
entities investing in low-income housing; relates to the excelsior jobs
program; conforms laws to the federal Dodd-Frank Wall Street Reform and
Consumer Protection Act; extends certain provisions of laws relating to
franchise tax; updates the tax classification of diesel motor fuel to be
consistent with federal laws and makes the diesel tax structure consistent with
this new tax treatment; makes a technical correction to the E85 definition;
extends effectiveness related to alternative fuels tax exemptions; relates to
the distribution of motor vehicle fees; relates to video lottery free play
allowance program; relates to prize payout of certain instant lottery games;
relates to prize payout for certain multi-jurisdictional lottery games; relates
to multi-jurisdictional video lottery gaming; relates to licenses for simulcast
facilities, sums relating to track simulcast, simulcast out-of-state
thoroughbred races, simulcasting of races run by out-of-state harness tracks
and distributions of wagers; extends related provisions; relates to application
fees owed by retail dealers of businesses that sell tobacco products and owners
of cigarette vending machines; establishes standards for electronic real
property tax administration, allows the department of taxation and finance to
use electronic communication means to furnish tax notices and other documents,
mandatory electronic filing of tax documents, debit cards issued for tax
refunds, and improves sales tax compliance; establishes the economic
transformation and facility redevelopment program and providing tax benefits
under that program.